NEE · Earnings call · 2026Q3T · Full report
Guidance and Outlook
NEXTERA ENERGY INC · 2026-10-21 · Importance 59 · Surprise 32 · In source text
NextEra maintained its 2026 adjusted EPS range of $3.92–$4.02 and targeted the high end. Management expects adjusted EPS to grow at a compound annual rate of at least 8% through 2032 and is targeting the same rate from 2032 through 2035, based on 2025 adjusted EPS of $3.71. From 2025 to 2032, average annual operating cash-flow growth is expected to equal or exceed the adjusted EPS growth rate. The company expects dividend-per-share growth of roughly 10% annually through 2026 from a 2024 base, followed by 6% annually from year-end 2026 through 2028.
Key facts
- NextEra Energy Resources could become a $50 billion-type utility if it hits its targets.
- NextEra Energy expected adjusted EPS CAGR of 8%+ through 2032 and targeted the same 8%+ from 2032 through 2035, based on the 2025 adjusted EPS base of $3.71.
- NextEra Energy expected dividend-per-share growth of roughly 10% per year through 2026 from a 2024 base, and 6% per year from year-end 2026 through 2028.
- NextEra Energy expected Q4 2026 El Niño impacts to reduce wind generation to 90%–95% of the long-term average, while still targeting the high end of its 2026 EPS range.
- NextEra Energy projected adjusted EPS growth of 9%+ in combination with Dominion Energy, compared with its standalone long-term expectation of 8%+.
- NextEra Energy expected average annual operating cash flow growth from 2025 to 2032 to be at or above its adjusted EPS CAGR range.
- NextEra Energy's 2026 adjusted EPS expectation remained $3.92–$4.02, and it was targeting the high end of the range.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| net_income | positive | committed | — | NextEra Energy expected adjusted EPS CAGR of 8%+ through 2032 and targeted the same 8%+ from 2032 through 2035, based on the 2025 adjusted… |
| net_income | positive | committed | — | NextEra Energy expected adjusted EPS CAGR of 8%+ through 2032 and targeted the same 8%+ from 2032 through 2035, based on the 2025 adjusted… |
| cash | negative | committed | — | NextEra Energy expected dividend-per-share growth of roughly 10% per year through 2026 from a 2024 base, and 6% per year from year-end… |
| cash | negative | committed | — | NextEra Energy expected dividend-per-share growth of roughly 10% per year through 2026 from a 2024 base, and 6% per year from year-end… |
| revenue | negative | probable | — | NextEra Energy expected Q4 2026 El Niño impacts to reduce wind generation to 90%–95% of the long-term average, while still targeting the… |
| net_income | positive | probable | — | NextEra Energy projected adjusted EPS growth of 9%+ in combination with Dominion Energy, compared with its standalone long-term… |